Social media benchmarks for monetary providers: Q3 2024 information
Should you’re utilizing social media for advertising and communications at a financial institution, credit score union, or different monetary establishment, you may discover reporting in your progress difficult. How have you learnt in case your technique is working? Is a mean of 100 feedback per week good, or is it simply common? And when is the perfect time to publish your content material?
There isn’t a common reply — all of it will depend on components like your sector, the platforms you’re utilizing, your viewers demographics, and extra.
That’s the place social media benchmarks are available. These numbers provide a transparent view of what’s regular on your {industry} when it comes to engagement and progress, serving to you perceive how your outcomes examine.
Learn on for the latest social media benchmarks and stats particular to the FinServ {industry} that can put your efficiency into perspective.
Psst: When you seize your benchmarks, head to our information to utilizing social media in monetary providers to learn the way to motion these insights.
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Under, you’ll discover suggestions for the perfect occasions to submit on Fb, Instagram, LinkedIn, and X (previously Twitter) for max engagement.
Word: Time of day was localized throughout 118 international locations the place pattern information got here from, i.e. the graphs are correct throughout time zones.
Greatest time to submit on Fb
In line with our analysis, early morning (5-7 am) on Monday is the perfect time for monetary establishments to submit on Fb — however, basically, engagement stays constant all through the week.
Greatest time to submit on Instagram
Mornings are the perfect time to submit on Instagram in FinServ. Posts printed between 7 and 11 am on Tuesdays and Wednesdays, and 10 am and midday on Fridays appear to generate the very best engagement.
Greatest time to submit on LinkedIn
On LinkedIn, posts printed between 6 and eight pm on Thursday get essentially the most interactions.
Greatest time to submit on X (Twitter)
Thursday evening (10 pm) and Friday night (8 pm) Tweets are likely to generate the very best engagement for monetary establishments on X.
Each monetary establishment’s ultimate posting schedule is exclusive, and you must check completely different posting frequencies to seek out out what works greatest on your viewers. That stated, these industry-specific stats will make it easier to discover a data-informed place to begin.
Our analysis discovered that monetary establishments submit on Fb extra typically than on different social platforms — a mean of over 7 occasions every week. Instagram and LinkedIn comply with, with a mean frequency of 6 posts per week on each platforms.
Under, you’ll discover network-specific information that illustrates how posting frequency corresponds to general engagement charges.
On Fb, efficiency will depend on the standard of the content material you submit greater than it does on how typically you submit. FinServ establishments that posted twelve occasions every week have seen comparable engagement charges to these posting a mean of solely as soon as per week.
On Instagram, 10 updates (posts, Tales, and/or Reels) per week is the candy spot in FinServ.
On X, you don’t want a busy posting schedule to maintain your viewers engaged. 1-2 posts every week are the candy spot for monetary establishments.
The identical goes for LinkedIn. Monetary establishments posting solely as soon as every week see the very best common engagement on their content material — however, apparently, engagement is equally excessive for profiles that submit 10 occasions every week.
Common engagement charges in monetary providers
Questioning in case your engagement charges are excessive sufficient? Listed below are the {industry} averages throughout all main social networks as of September 2024:
- Instagram: 5%
- Fb: 3.6%
- X (Twitter): 3%
- LinkedIn: 2.5%
- TikTok: 1.6%
Totally different social networks provide completely different content material codecs — however how do you determine which ought to dominate your content material combine?
Right here’s what our analysis says.
On Fb, album posts generate essentially the most engagement — adopted by posts with particular person images, movies, and hyperlinks.
Instagram customers are almost definitely to work together with carousels, adopted by common picture posts and Reels.
On LinkedIn, posts with images and movies outperform posts with hyperlinks and text-only standing updates.
Follower progress fee in monetary providers
In case your social media technique revolves round rising your viewers, be sure you’re setting real looking objectives. Right here is how different FinServ profiles are doing in Q3 2024:
- LinkedIn: 0.56%
- Instagram: 0.47%
- X (Twitter): 0.47%
- Fb: 0.02%
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